The quest to develop leading edge chips for artificial intelligence isn’t slowing down anytime soon.

‍What’s happening:‍

• Edge artificial intelligence chip manufacturing company Hailo has raised $120M USD in a new Series C financing round
  
• The round saw participation from Delek Motors, OurCrowd, Automotive Equipment, Poalim Equity and others
  

The big idea:‍

• Hailo manufactures chips capable of running artificial intelligence workloads on edge devices which are not connected to the Internet
  
• Because Halio’s chips use less memory and consume less power than a typical chip, they are highly suitable for battery powered devices such as vehicles and robotics
  

Why it matters:‍

• Chip making startups have become more relevant than ever with the rise in computing demands from artificial intelligence startups and developers of new large language models
  

By the numbers:‍

• Hailo has raised $340M USD in venture capital funding since inception
  

Going deeper:‍

• Nvidia (NASDAQ: NVDA) has been the most dominant player in the chip manufacturing space, amidst unprecedented new demand for their GPUs and hardware
  
• Social Capital backed artificial intelligence chip maker Groq has also been accelerating the development of their Language Processing Units, which are capable of training artificial intelligence workloads at significantly faster rates than current interfaces

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